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AK. Stevenson wants to raise $30 million through a rights offering. The subscription price is...

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AK. Stevenson wants to raise $30 million through a rights offering. The subscription price is set at $30. Currently, the company has 22 million shares outstanding with a current market price of $33.33 a share. Each shareholder will receive one right for each share of stock they currently own. How many rights will be needed to purchase one new share of stock in this offering? O 2.2 rights O 11 rights O 1.3 rights O 40 rights O 18 rights

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